Phrase used by Brien Taylor, former MLB #1 pick of the New York Yankees, and his family under the advice of agent Scott Boras. The Yankees offered him about $350,000, the usual amount for a #1 pick, but Taylor informed them he would be holding out for "Todd Van Poppel money", in reference to previous year's draftee Todd Van Poppel, who was given $1.2 million to sign with the Oakland Athletics. Taylor was eventually given more than $1.55 million. Humorously, Brien Taylor never ended up in the majors after tearing his labrum in a bar fight, and Van Poppel spent the majority of his career as a mediocre middle reliever.
This phrase pops up frequently around drafts, when high draftees are expected to ask for ridiculous amounts of money rivaling the contracts of many proven veterans and younger stars.
It can also be used in everyday situations when referring to a relatively large amount of money, especially when said money is being offered to convince you to do something heinous.